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Bonds News

Moody's begins CDO rating cuts tied to subprime

NEW YORK, Oct 26 (Reuters) - Moody’s Investors Service on Friday began cutting ratings of collateralized debt obligations tied to subprime mortgage debt the rating company cut two weeks ago, a spokesman said on Friday.

Moody’s also placed a series of CDOs on review for more cuts, which are tied to Moody’s Oct. 11 rating cuts on $33.4 billion of subprime mortgage debt, its biggest action on mortgage debt to date, said spokesman Michael Adler, who didn’t immediately have details on the amount of debt affected.

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